NCDMB, NEXIM Bank launch US$40m fund for women entrepreneurs in oil sector

NIGERIA – Nigerian Content Development and Monitoring Board (NCDMB) and Nexim Nigerian Export-Import Bank NEXIM Bank have launched a US$40 million fund for qualified women entrepreneurs in the Nigerian Oil and Gas industry. The NCDMB is contributing US$20 million to the pool and it will be matched by the same amount in Naira by NEXIM, to be converted at prevailing official exchange rate. The Executive Secretary NCDMB, Engr. Simbi Kesiye Wabote and the Managing Director of Nexim Nigerian Export-Import Bank, Mr. Abubakar Bello signed the memorandum of understanding on the…

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NCDMB, NEXIM to administer US$30m Working Capital Fund for oil and gas service companies

NIGERIA – The Nigerian Content Development and Monitoring Board (NCDMB) and Nigerian Export-Import Bank (NEXIM) have signed a memorandum of understanding on the administration of US$30 million Working Capital Fund for oil and gas service companies. The Fund was conceived by the NCDMB to support the operations of local oil companies against the adverse effects of the Covid-19 Pandemic, loss of contracts due to low oil price and ensure the companies retain their personnel in employment. The Working Capital Scheme is one of the newly introduced products in the Nigerian…

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